Paul Manafort, the former manager of Donald Trump's 2016 presidential campaign, will pay $3.15 million from a civil suit initiated by the Justice Department in April 2022, alleging Manafort had undeclared foreign bank accounts.
The complaint claims Manafort did not report on more than 20 foreign bank accounts, including 18 in Cyprus, one in the United Kingdom, and three in St. Vincent, and the Grenadines in both 2013 and 2014.
And that Manafort will pay fines and interest "for his willful failure to timely report his financial interest in foreign bank accounts."
Manafort was required to report on the accounts, which had thousands of dollars being held.
According to the lawsuit, accounts were opened "without the use of Manafort's name," but with nominee shell corporations opened or operated by others, and that Manafort filed false tax returns between 2006 and 2015.
The settlement was announced on Feb. 22 and filed in U.S. District Court for the Southern District of Florida. It is not determined when or how Manafort will settle the suit.
His attorney, Jeffrey Neiman, told Axios, "Despite having defenses, Mr. Manafort has chosen to put this chapter of his life completely behind him. Paul has moved on."
Neiman also said Manafort had been trying to resolve the civil suit for months and that "the Government insisted on filing this suit simply to embarrass Mr. Manafort."
In 2018, Manafort was convicted of criminal tax, conspiracy, and bank fraud after a guilty plea stemming from special counsel Robert Mueller's probe into Russian interference in the 2016 presidential election.
In 2019, Manafort was sentenced to seven and a half years in prison, to which Trump pardoned him in 2020.
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